The euro zone is not ready politically for a default
On Tuesday night, I spoke to Amanda Lang and Kevin O’Leary about Greece. The question was whether they were going to default and leave the euro zone. My response is that the euro zone is not ready politically for a default and so I think some sort of bailout deal is likely over the short term.
Over the longer term, I see nationalism leading to a Greek exit from the euro zone if the present austerity path continues.